{"id":304238,"date":"2025-11-24T18:15:11","date_gmt":"2025-11-24T18:15:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/304238\/"},"modified":"2025-11-24T18:15:11","modified_gmt":"2025-11-24T18:15:11","slug":"jp-morgan-says-oil-prices-could-plunge-into-30s-by-2027","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/304238\/","title":{"rendered":"JP Morgan Says Oil Prices Could Plunge Into $30s by 2027"},"content":{"rendered":"<p>The international crude benchmark, Brent, could dip to the $30s per barrel handle by 2027 as oversupply could overwhelm the market, according to a JP Morgan <a href=\"https:\/\/x.com\/naeemaslam23\/status\/1992932584997687779\" rel=\"nofollow\">forecast<\/a> posted by users on X.\u00a0\u00a0<\/p>\n<p><a href=\"http:\/\/oilprice.com\/oil-price-charts\/#Brent-Crude\" rel=\"nofollow noopener\" target=\"_blank\">Brent Crude prices<\/a> have dropped by 14% year to date, and traded relatively stable at $62.59 per barrel early on Monday, as the oil market awaits news from the renewed negotiations on peace in Ukraine.\u00a0<\/p>\n<p>The U.S. and Ukraine held on Sunday in Geneva what the two sides described as \u201c<a href=\"https:\/\/www.whitehouse.gov\/briefings-statements\/2025\/11\/joint-statement-on-united-states-ukraine-meeting\/\" rel=\"nofollow noopener\" target=\"_blank\">highly productive\u201d talks<\/a> and agreed to continue intensive work on a \u201crefined\u201d peace plan, which the U.S. first proposed last week.\u00a0<\/p>\n<p>Despite the fears of a glut, analysts and investment banks don\u2019t see oil prices moving down to $40 or below, even as oil is set to decline in the near term with strong supply from OPEC+ and the non-OPEC producers in the Americas.\u00a0\u00a0<\/p>\n<p>Peace in Ukraine could also weigh on energy prices as some sanctions and restrictions on Russia could be eased, analysts say.\u00a0<\/p>\n<p>Set OilPrice.com as a preferred source in Google <a class=\"google_preferred_source_banner_inarticle_link\" target=\"_blank\" href=\"https:\/\/www.google.com\/preferences\/source?q=oilprice.com\" rel=\"nofollow noopener\">here<\/a>.<\/p>\n<p>Oil prices are set to further drop into next year from current levels amid a large surplus on the market, with the U.S. benchmark WTI Crude expected to average <a href=\"https:\/\/oilprice.com\/Latest-Energy-News\/World-News\/Goldman-Sachs-Oil-Prices-To-Drop-to-53-In-2026.html\" rel=\"nofollow noopener\" target=\"_blank\">$53 per barrel<\/a> in 2026, according to Goldman Sachs.<\/p>\n<p>The investment bank\u2019s call for next year is that oil prices are on track for further declines and investors should short oil right now, Daan Struyven, co-head of global commodities research at Goldman Sachs, told\u00a0<a href=\"https:\/\/www.cnbc.com\/video\/2025\/11\/18\/expect-oil-prices-to-decline-further-in-2026-says-goldman-sachs-daan-struyven.html\" rel=\"nofollow noopener\" target=\"_blank\">CNBC<\/a>\u00a0last week.\u00a0<\/p>\n<p>The surplus next year will be 2 million bpd on average, Goldman reckons, but notes that 2026 will be the last year of the current big supply wave hitting the market.<\/p>\n<p>The oil market is set to rebalance in 2027 as 2026 will see \u201cthe last big oil supply wave the market has to work through,\u201d Goldman\u2019s Struyven added.\u00a0\u00a0\u00a0<\/p>\n<p>By Michael Kern for <a href=\"http:\/\/oilprice.com\" rel=\"nofollow noopener\" target=\"_blank\">Oilprice.com<\/a><\/p>\n<p>More Top Reads From Oilprice.com<\/p>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"The international crude benchmark, Brent, could dip to the $30s per barrel handle by 2027 as oversupply could&hellip;\n","protected":false},"author":2,"featured_media":304239,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[32475,45,49,48,136519,44503,17496,25515,136518,136517,136516,136520,90199],"class_list":["post-304238","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-brent-crude","tag-business","tag-ca","tag-canada","tag-crude-oil-outlook","tag-energy-prices","tag-goldman-sachs","tag-jp-morgan","tag-oil-market-analysis","tag-oil-oversupply","tag-oil-price-forecast","tag-oil-surplus","tag-wti-crude"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/304238","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=304238"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/304238\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/304239"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=304238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=304238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=304238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}